Contents insurance is a kind of insurance policy that provides coverage for movable things inside a building. This kind of insurance covers the contents of both homes and businesses. Items that may be covered by contents insurance include furniture, electronic equipment, appliances, clothing, and so on. Homeowners may purchase a contents insurance policy on top of property insurance. Renters also commonly purchase standalone contents insurance policies to obtain protection for their belongings, as they are not liable for the property they rent anyway.
Most insurance companies offer contents insurance policies, and they will even offer discounts when the policy is purchased together with another kind of policy. For example, if you acquire a property insurance policy, you may get lower premiums for contents insurance. The same thing may apply if you purchase a car insurance policy and add a contents insurance policy on top of it.
The exact cost of a contents insurance policy will be determined by various factors. Some of the most common factors are the nature of the contents to be insured, your location and surroundings, and the insurance company itself. The best thing to do is to ask for a quote, which is almost always free anyway. You can then compare quotes from several insurance companies when making your decision.
One thing that you have to clarify before you choose a contents insurance policy – what items are covered by the policy. In most cases, items of high value such as jewelry and art collections are not included in contents insurance. You have to make sure that you are clear as to which of your belongings can be covered so that you will not be in for any surprises.